The rise of intermediary-less decentralized finance (“DeFi”) lending has led many to wonder how it should be regulated. Although DeFi lending could potentially offer reduced risks of centralization and market frictions, investors in DeFi lending are currently exposed to centralized risks and...

I study the relationship between a matching platform's design and users' welfare. Increasing users' number of prospects has a positive choice effect (users are more likely to find a desirable partner) and a negative competition effect (users are less likely to match). The interaction of choice...

We assess notably how do extreme events affect the public sector efficiency of decentralized governance. Hence, we empirically link the public sector efficiency scores, to tax revenue and spending decentralization. First, we compute government spending efficiency scores via data envelopment...

This study examines why no existing decentralized storage is suitable for storing personal data, from a legal and ethical point of view, and what negative consequences the development of blockchain technologies may have for society without taking this crucial factor into account.We take a closer...

Why do absolutists decentralize power to others? We developed a signaling game model to analyze the decentralization under an authoritarian regime. The model reveals that strong rulers prefer to not offer any power decentralization, while weak rulers tend to disguise themselves as strong rulers...

The literature on fiscal federalism has long debated whether fiscally decentralized countries are inherently more economically and fiscally unstable. This paper contributes to this literature by analyzing the impact of fiscal decentralization on one of the most important dimensions of...

This paper contributes to the literature on the nexus between decentralization and citizen trust in government through the use of a comprehensive set of decentralization measures that have been recently developed. Using measures of autonomy at both the regional and local (municipal) levels of...

We study pre-vote interactions in a committee that enacts a welfare-improving reform through voting. Committee members use decentralized promises contingent on the reform enactment to influence the vote outcome. Equilibrium promises prevent beneficial coalitional deviations and minimize total...

Decentralised technologies have gained popularity recently due to their reliable, transparent, open, immutable and secured natures. The technologies have demonstrated numerous benefits in a wide range of domains, including finance, healthcare, government, manufacturing and supply chain. However,...

In river systems, costly upstream pollution abatement creates downstream welfare gains. Without a central authority to enforce such abatement, the welfare gains can only be realized if downstream regions compensate for the upstream abatement. We develop a model that makes explicit the impact of...